Adicet Bio (NASDAQ:ACET) Announces Earnings Results

Adicet Bio (NASDAQ:ACET) released its earnings results on Tuesday. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.03, Yahoo Finance reports.

Adicet Bio Stock Performance

Adicet Bio stock traded up $0.11 during mid-day trading on Wednesday, reaching $1.41. The company’s stock had a trading volume of 246,966 shares, compared to its average volume of 1,382,604. The business’s 50 day simple moving average is $1.33 and its 200 day simple moving average is $1.88. Adicet Bio has a 12 month low of $1.05 and a 12 month high of $3.77. The company has a market capitalization of $115.45 million, a price-to-earnings ratio of -0.45 and a beta of 1.80.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ACET shares. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Adicet Bio in a report on Monday, July 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $19.00 target price on shares of Adicet Bio in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a research note on Tuesday. Finally, StockNews.com raised Adicet Bio to a “sell” rating in a research note on Monday, May 20th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, Adicet Bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.25.

Adicet Bio Company Profile

Adicet Bio, Inc, a clinical stage biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. The company offers gamma delta T cells engineered with chimeric antigen receptors (CARs) to facilitate durable activity in patients. Its lead product candidate is ADI-001, an allogeneic gamma delta T cell therapy expressing a CAR targeting CD20, which is in Phase I clinical trial for the treatment of autoimmune diseases and relapsed or refractory aggressive B cell non-Hodgkin's lymphoma.